“Combined with its current yield and the expectation of 12% to 15% annual distributions per unit growth through at least 2025, NextEra Energy Partners has the potential to deliver a total after-tax return of approximately 20% annually through this time frame.”

In context

“anticipate an acceleration of renewables and storage deployment in the U.S. over the next few decades. In turn, we expect that NextEra Energy Partners will continue to have ample opportunities to acquire assets from both Energy Resources and from third parties. Additionally, we believe that the long-term organic growth potential for NextEra Energy Partners has increased, with potential new opportunities to repower its roughly 8 gigawatt existing wind and solar assets and to pair battery storage with this nearly 7 gigawatt existing wind portfolio. Considering the potential impacts of the IRA, our expectation regarding the overall tax position for NextEra Energy Partners remains largely unchanged, including that it is not expected to pay any meaningful taxes for at least the next 15 years. Combined with its current yield and the expectation of 12% to 15% annual distributions per unit growth through at least 2025, NextEra Energy Partners has the potential to deliver a total after-tax return of approximately 20% annually through this time frame. With the ongoing strength of the renewables development environment and all of the market tailwinds provided by the IR, we believe that NextEra Energy Partners remains well positioned to continue delivering on its unitholder value proposition. In summary, we continue to believe that both NextEra Energy and NextEra Energy Partners have some of the best execution track records in the industry, and we are extremely excited about the long-term growth prospects for both businesses and the value we can continue to create for both customers and shareholders. That concludes our prepared remarks. And with that, we will open the line for questions. Operator: [Operator Instructions] And our first question will come from Steve Fleishman with Wolfe Research. Steven Fleishman : So just first on the --”